Income Producing Industrial Site with Potential for residential Development

Submitted on Thu, 25/04/2019 - 19:43

Located adjacent to Eggesford Train Station on the A377 is a small trading Estate known as Eggesford Station Yard.  Extending to 0.82 acres the site currently has 3 industrial / workshop units and a cafe producing rental income with two former workshops having been converted to residential dwellings.  One of these conversions is that of the former engine house which now provides a character 2-3 bedroomed dwelling.  The second conversion is that of a fairly plan looking single storey garage premises, which now offers a 2 bedroomed detached dwelling with garden.  Having been in the same ownership for the past 22 years the site was utilised for classic car restoration whilst also bringing in rental income from the letting of the surplus workshop space.  In more recent years planning consent has been established for the conversion of two of these workshop units and it is thought further conversions could be sought as well as new build consent.  The proposition could offer the best of both worlds for potential investors / developers, on one hand you have rental income coming in for the commercial parts whilst further rental income can be achieved from the letting of the two residential parts.  At the same time further time could be put to investigating and achieving further residential planning, again either for further rental income once any dwellings are constructed or sale to bring back some of the initial capital outlay to purchase the site.  Being located close to the train station means that by jumping on one of the many trains throughout the day you can get from the site to Exeter City Centre within 45 minutes, a particularly advantage should new owners wish to maximise the residential potential on the site.  Commercial and Business Specialists JD Commercial are quoting £715,000 for the site